State of Alaska Department of Revenue Sells 14,528 Shares of Airbnb, Inc. (NASDAQ:ABNB)

State of Alaska Department of Revenue cut its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB) by 22.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,355 shares of the company’s stock after selling 14,528 shares during the period. State of Alaska Department of Revenue’s holdings in Airbnb were worth $6,485,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Northwest Investment Counselors LLC acquired a new stake in Airbnb in the third quarter valued at about $25,000. Hollencrest Capital Management lifted its holdings in shares of Airbnb by 6,666.7% in the third quarter. Hollencrest Capital Management now owns 203 shares of the company’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Airbnb in the 4th quarter valued at approximately $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Airbnb during the 3rd quarter valued at approximately $30,000. Finally, Quarry LP acquired a new position in Airbnb during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Airbnb from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their target price on Airbnb from $115.00 to $125.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. UBS Group boosted their price target on Airbnb from $134.00 to $144.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Bank of America upped their price objective on Airbnb from $154.00 to $159.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company cut their target price on shares of Airbnb from $100.00 to $96.00 and set an “underweight” rating on the stock in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $139.63.

Airbnb Stock Performance

Shares of NASDAQ:ABNB opened at $134.98 on Friday. The firm has a fifty day simple moving average of $132.98 and a two-hundred day simple moving average of $130.17. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $85.57 billion, a P/E ratio of 47.36, a PEG ratio of 1.72 and a beta of 1.12. Airbnb, Inc. has a 52 week low of $110.38 and a 52 week high of $170.10.

Airbnb (NASDAQ:ABNB) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company posted $2.39 EPS. On average, analysts expect that Airbnb, Inc. will post 3.98 earnings per share for the current fiscal year.

Insider Transactions at Airbnb

In other Airbnb news, CTO Aristotle N. Balogh sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $136.01, for a total value of $68,005.00. Following the completion of the sale, the chief technology officer now directly owns 185,414 shares in the company, valued at approximately $25,218,158.14. This represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David C. Bernstein sold 1,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $137.00, for a total transaction of $137,000.00. Following the completion of the sale, the chief accounting officer now directly owns 40,581 shares of the company’s stock, valued at approximately $5,559,597. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,417,704 shares of company stock worth $187,654,829. 27.83% of the stock is currently owned by company insiders.

Airbnb Company Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.